The Philippine Export Development Plan (PEDP) 2023-2028 begins with its first session in Cebu City (Region VII) and Iloilo City (Region VI) on August 20, 2024. This event will be livestreamed via Zoom and is designed to introduce government programs and services that can help exporters succeed.
Continue reading “Unlock Export Success: Join the Cebu Kickoff of the Philippine Export Development Plan 2023-2028”Driving Export Success: Nationwide Initiative for the PEDP 2023-2028
The Export Development Council (EDC) is preparing for the nationwide launch of stakeholder engagement sessions, a collaborative effort aimed at implementing the Philippine Export Development Plan (PEDP) 2023-2028. These sessions are not just about sharing information, but about fostering a sense of shared responsibility and involvement among stakeholders. They are designed to align efforts and promote government programs, with the active participation of key players in the sector.
Continue reading “Driving Export Success: Nationwide Initiative for the PEDP 2023-2028”Philippine exports surpassed $100 Billion in 2023
The Philippines achieved a historic milestone in 2023 as the total exports of goods and services reached USD 103.6 billion, marking a remarkable 4.8% increase from the recorded export performance of USD 98.83 billion in 2022. However, this falls short of $23.2 billion below the 2023 target outlined in the Philippine Export Development Plan (PEDP).
Director Bianca Pearl Sykimte of the Export Marketing Bureau (EMB), concurrent Executive Director of the Export Development Council (EDC), reported that the Agriculture and Agri-Based Exports sector reached 6.6%, surpassing the 2023 target of 5.1%. Similarly, the ambitious target for the Transport Products also demonstrated significant growth, breaching 5.4% in 2023, exceeding the expected target of 4.2%.
Continue reading “Philippine exports surpassed $100 Billion in 2023”PH Export Slump: Impact on 2024 Growth Forecasts
The Philippines faces hurdles in reaching its 2024 growth target due to a significant slump in exports. Weak export demand, particularly from key markets like the United States and China poses a challenge.
Economists and experts have varying projections for the Philippine economic performance this year. While the Development Budget Coordination Committee (DBCC) remains optimistic with growth projections of 6.5 to 7.5 percent growth, others like the First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) anticipate slower GDP growth of at least 6.0 percent this year.
A recent publicly featured study by the Philippine Institute for Development Studies (PIDS) titled “Macroeconomic Outlook of the Philippines in 2023–2024: Prospects and Perils” predicts economic growth in 2024 to be between 5.5 and 6 percent, with inflation dropping to the target range. This study presents conditions shaping the global and regional outlook, projections on growth and consumer prices, and prospects coming into 2024. For further details, the complete study by PIDS is can be accessed through this link
Analysts anticipate the Bangko Sentral ng Pilipinas (BSP) to lower interest rates to stimulate investment growth, aligning with predictions of below-target growth in 2024. AOB
DTI Sets Ambitious 2024 Export Targets Amidst Market Challenges
Trade Secretary Alfredo “Fred” Pascual set a higher target for Philippine exports in 2024 to align with last year’s export target under the Philippine Export Development Plan (PEDP) 2023-2028. The country needs to attain about 40% growth in export value from 2023 to catch up with the PEDP target; however, market projections suggest an increase of approximately 10% this year. The 10-percent export growth target surpasses the 5 to 6-percent export growth that the Philippine Exporters Confederation, Inc. (PHILEXPORT) had projected.
Continue reading “DTI Sets Ambitious 2024 Export Targets Amidst Market Challenges”DOF underscores PH Economic Performance with 5.9% growth in Q3 of 2023
The Department of Finance (DOF) Secretary Benjamin E. Diokno underscored the sustained recovery and progress of the Philippine economy at the Pilipinas Conference 2023, hosted by the Stratbase ADR Institute, with the theme, “The Path Towards Economic Security: Turning Global Risks into Opportunities.”
Continue reading “DOF underscores PH Economic Performance with 5.9% growth in Q3 of 2023”EDC conducts PEDP 2023-2028 PAPs Validation Workshop
The Export Development Council (EDC) conducted a two-day Validation workshop on the Programs, Activities, and Projects (PAPs) submitted by government agencies under Memorandum Circular No. 27 (2017). The objective was to validate and enhance the proposed strategies in line with the PEDP 2023-2028.
Continue reading “EDC conducts PEDP 2023-2028 PAPs Validation Workshop”PHILEXPORT urges government to increase budget for export to achieve PEDP 2023-2028 goals
Mr. Sergio R. Ortiz-Luis Jr., EDC Vice Chair and PHILEXPORT President mentioned in an interview that the country’s export target is currently falling short of this year’s target, which is only about to reach $115B. External factors, such as issues related to the Ukraine-Russia and Israel-Hamas war, have contributed to this gap.
Continue reading “PHILEXPORT urges government to increase budget for export to achieve PEDP 2023-2028 goals”SAVE THE DATE: National Export Congress 2023
We’re two months away from the highly anticipated celebration of the National Exporters Week (NEW) 2023!
Co-organized by the Department of Trade and Industry-Export Marketing Bureau (DTI-EMB), the Export Development Council (EDC), and the Philippine Exporters Confederation, Inc. (PHILEXPORT), this event promises to be a pivotal gathering for the export industry, offering valuable insights and networking opportunities. The NEW/NEC 2023 is slated on December 04-07, 2023, at the Sheraton Hotel in Pasay City.
EDC, DTI-EMB, and PHILEXPORT to conduct PEDP 2023-2028 Regionalization nationwide
The Export Development Council (EDC), the DTI-Export Marketing Bureau (EMB), and PHILEXPORT will conduct the Philippine Export Development Plan (PEDP) 2023-2028 Regionalization Roadshow nationwide. The event will feature presentations, workshops, and seminars to bring together exporters, would-be exporters, government agencies, LGUs, academe, and media in the top exporting regions of Luzon, Visayas, and Mindanao. With the primary aim of cascading the government agencies Programs, Activities, Projects (PAPs) supportive of the implementation of the PEDP, participants will acquire a firsthand understanding of the strategic direction and targets outlined in the plan. To read more about it, click this link .
Continue reading “EDC, DTI-EMB, and PHILEXPORT to conduct PEDP 2023-2028 Regionalization nationwide”